Consider the Categorical Variable Self-Reported Health Status with the following categories: Good, Fair, Poor. The dependent variable in the Linear Regression is Health Insurance Premium in dollars. Suppose Fair is the excluded category. The coefficient on Good is 1,403. The coefficient on Poor is 2,906. What is the interpretation of the coefficient on Good?

Group of answer choices

a)People who report Good health pay $1,403 less in Health Insurance Premiums compared to a person who reports Poor health

b)People who report Good health pay $1,403 less in Health Insurance Premiums compared to a person who reports Fair health

c)People who report Fair health pay $1,403 less in Health Insurance Premiums compared to a person who reports Good health

d)There is no way to determine from these results how the Health Insurance Premiums of people who report Good health compare to the premiums of people who report Fair health